Dollars come, Dollars Go

digitS'

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It's that time of year ;).

Where did that "dollar" name come from? I've been doing a little reading, just curious. The "dollar" is from the German word for valley, thal. There was a German valley with mines that produced silver which was minted into coins. Quite productive mines, it seems. The coins were used in Denmark and Sweden, as well as Germany.

Let's look at colonial North America: Spain was an early colonizer, trading in Florida, Mexico and California - for over 250 years. Pieces of Eight, or The Peso coin was common in the 13 Colonies of what would become the United States in 1776. It was about the same as the German coin and the English speaking people called it a "dollar."

The name for a new US currency was decided on early. Leaders in the former colonies of Pennsylvania and New York had a good deal of influence establishing the first federal bank. Rich guy, Gouverneur Morris and that founding father Alexander Hamilton had a strong influence. Let's go back earlier :).

Before there was a Pennsylvania and New York, there was a New Netherlands and a New Sweden. Interestingly, a fellow who was born in Germany had an important role in both of these - Peter Minuit. He was an administrator in New Netherlands and set things up for the Swedish in New Sweden. Keep in mind that trade was a primary interest for the commercial outfits involved. Trade with Native Americans and importation to Europe with whatever the colonists produced. And, these weren't all Swedes and Dutch as colonists and traders - and then the English showed up. But, there was a common currency. It fairly much amounted to those silver coins.

Now, go out and spend them! You know, "it's the patriotic thing to do."

Steve
 

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